Indian start-up Evenflow goes international on Amazon US - Business Today

Summary

Evenflow Brands, an aggregator of third-party online sellers, has acquired Trendy Home, a Tamil Nadu based home furnishing brand that sells exclusively on Amazon US. This is Evenflow’s eighth acquisition in the last eight months.

With Trendy Home, Evenflow is aiming to start building its capabilities in international markets, starting from Amazon US. More importantly, Evenflow is eyeing to replicate the infrastructure to scale other brands that it has acquired to make them debut on Amazon US.

Evenflow Brands, an aggregator of third-party online sellers, has acquired Trendy Home, a Tamil Nadu based home furnishing brand that sells exclusively on Amazon US. This is Evenflow’s eighth acquisition in the last eight months.

With Trendy Home, Evenflow is aiming to start building its capabilities in international markets, starting from Amazon US. More importantly, Evenflow is eyeing to replicate the infrastructure to scale other brands that it has acquired to make them debut on Amazon US.

Trendy Home, a four-year-old brand, is Evenflow’s first acquisition in the home furnishing category and it is line with the start-up’s plans to acquire a significant market share in this category on e-commerce marketplaces like Amazon, Flipkart, Meesho and others in India.

Incidentally, home furnishing is a very unorganised market, which provides Evenflow an opportunity to build a brand and scale and achieve a large market share.

Founded by former Uber executives Utsav Agarwal and Pulkit Chhabra in 2021, Evenflow aggregates third-party sellers on e-commerce platforms like Amazon and Flipkart. It acquires online marketplace sellers in the range of $200,000 - $2million per brand.

“Evenflow understands the business holistically and brings in significant expertise to help scale the brand on e-commerce platforms,” said Ram Kumar, founder, Trendy Home.

“We were completely aligned in terms of our future plans to build and expand the brand. With the e-commerce expertise that Evenflow brings, Trendy Home can expand globally and can be made accessible through many more platforms with a wider variety of products under different categories,” he added.

According to Evenflow's co-founder & CEO Agarwal, the deal has given the venture an exposure on Amazon US and, more importantly, will provide a learning experience to take their other brands to the international markets.

‘It is incredible how Ram has built an Amazon US focussed business sitting out of India… this deal gives us exposure to Amazon US and is going to be a learning experience for us in building playbooks to grow our other domestic brands internationally,” said Agarwal.

Evenflow has also launched two private labels that are sold on multiple marketplaces. Unlike other Thrasio-style rollups focusing on D2C brands, Evenflow is heavily focused on third-party sellers on marketplaces and acquires them at EBITDA multiples.

In 2020, over seven lakh sellers signed up on Amazon India, making it the highest among any Amazon marketplace globally. Further, third-party sellers on Amazon crossed $300 billion globally in gross merchandise value and are expected to reach $650 billion by 2025.

According to Evenflow's co-founder Chhabra, Trendy Home portfolio will be scaled to other geographies including India to make it a true global brand operating from India.

“Acquiring a global brand operating out of India can be quite complicated… With a deep focus on sustainable growth, we will be bringing in best practices like price optimisation, supply chain efficiencies, new SKUs and category launches across the Trendy Home portfolio,” said Chhabra.

Indian start-up Evenflow goes international on Amazon US - Business Today
Photo Credit: Business Today

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